Leerink Swann Comments on Bristol-Myers Squibb Company’s Q3 2017 Earnings (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) – Leerink Swann boosted their Q3 2017 earnings per share estimates for Bristol-Myers Squibb in a report issued on Monday. Leerink Swann analyst S. Fernandez now expects that the biopharmaceutical company will post earnings of $0.78 per share for the quarter, up from their prior forecast of $0.72. Leerink Swann currently has a “Outperform” rating and a $72.00 target price on the stock. Leerink Swann also issued estimates for Bristol-Myers Squibb’s Q4 2017 earnings at $0.68 EPS and FY2017 earnings at $3.05 EPS.
A number of other research firms also recently issued reports on BMY. Barclays PLC increased their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group LLC downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a research note on Monday, October 16th. BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Thursday, October 12th. Citigroup Inc. increased their price target on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Vetr raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 price target for the company in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $64.53.
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Shares of Bristol-Myers Squibb (NYSE BMY) opened at 63.75 on Tuesday. The stock has a 50 day moving average price of $63.48 and a 200 day moving average price of $57.42. The firm has a market capitalization of $104.55 billion, a P/E ratio of 23.28 and a beta of 1.19. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
Several large investors have recently bought and sold shares of BMY. Renaissance Technologies LLC grew its holdings in shares of Bristol-Myers Squibb by 108.5% during the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after buying an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Bristol-Myers Squibb by 185.2% during the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after buying an additional 3,960,191 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Bristol-Myers Squibb by 2,990.5% during the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after buying an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bristol-Myers Squibb by 42,071.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after buying an additional 3,323,649 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Bristol-Myers Squibb by 18.7% during the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the last quarter. Hedge funds and other institutional investors own 68.90% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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